PLS Group (PLS)
PLS $2.83
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Performance
Share price activity
- Last (Price)
- 2.83
- Change
- 0.00 (0.00)
- Bid / Ask
- 2.81 - 2.84
- Volume
- 31,494,606
- Turnover
- 86,937,756
- Open
- 2.71
- Day Range
- 2.69 - 2.83
- VWAP
- 2.77
- Prev Close
- 2.83
- Last Trade
- 06/11 4:18pm
Key information
- Sector
- Basic Materials
- Shares Issued
- 3,225,946,768
- NTA/Share
- 1.27
- Last Dividend
- 0.05
- Dividend Ex Date
- 2 SEP 2026
- Dividend Pay Date
- 24 SEP 2026
Current (AUD) · FY2026
- Revenue
- 1,539.71
- EBITDA
- 1,087.09
- Profit
- 525.76
- Earnings Per Share (EPS)
- 0.16
- Dividend Per Share (DPS)
- —
- Yield %
- 1.77
- Market Cap
- 9,129.43
- Price to Earnings Ratio (P/E)
- 17.53
Estimates (AUD) · FY2027
- Revenue
- 2,178.40
- EBITDA
- 1,270.95
- Profit
- 644.25
- Earnings Per Share (EPS)
- 0.20
- Dividend Per Share (DPS)
- 0.03
Quantitative rating
Fairly valued
- Economic Moat
- Narrow
- Financial Health
- Moderate
- Uncertainty
- High
Morningstar Quantitative Rating as of 5 NOV 2026.
Quantitative Equity Rating Methodology – view here
Fair value estimate
Five-star price 2.48 Fair value 2.91 One-star price 3.43
Morningstar Quantitative Rating as of 5 NOV 2026.
Quantitative valuation
- Fair Value
- 2.91
- Price / Fair Value
- 0.97
- Valuation
- Fairly valued
- Uncertainty
- High
Morningstar Quantitative Rating as of 5 NOV 2026. The slider runs from the five-star price (2.48) to the one-star price (3.43).
| Ratios |
|---|
| Currency (Price/reporting): AUD/AUD |
| Exchange Rate: 1.0000 |
| Price - closing or last bid | 2.83 |
| Price - 12 month high | 6.81 |
| Price - 12 month low | 2.50 |
| Pricing date | 5 NOV 2026 |
| Volume - avg. trading volume for the last ten days | 35.95 |
| Market capitalization | 9,129.43 |
| 12 Month High price date | 3 JUN 2026 |
| 12 Month Low price date | 2 NOV 2026 |
| Volume - avg. trading volume for the last 3 months | 29.27 |
| Price - 1 Day % Change | 0.00% |
| Price - 13 week price percent change | -34.64% |
| Price - 26 week price percent change | -53.15% |
| Price - 5 Day % Change | 2.91% |
| Price - 52 week price percent change | -5.03% |
| Price - YTD price percent change | -32.94% |
| Price % Change Month To Date | -23.92% |
| EPS excluding extraordinary items - most recent fiscal year | 0.161 |
| EPS excluding extraordinary items - trailing 12 month | 0.161 |
| EPS Normalized - most recent fiscal year | 0.166 |
| Revenue/share - most recent fiscal year | 0.473 |
| Revenue/share - trailing 12 month | 0.473 |
| Book value per share - most recent fiscal year | 1.265 |
| Book value per share - most recent half-year | 1.265 |
| Book value (tangible) per share - most recent fiscal year | 1.266 |
| Book value (tangible) per share - most recent half-year | 1.266 |
| Cash per share - most recent fiscal year | 0.710 |
| Cash per share - most recent half-year | 0.710 |
| Cash Flow per share - most recent fiscal year | 0.405 |
| Cash Flow per share - trailing 12 month | 0.405 |
| Dividend per share - most recent fiscal year | — |
| Dividends per share - trailing 12 month | 0.050 |
| EBITD per share - trailing 12 month | 0.334 |
| EPS Basic excluding extraordinary items - most recent fiscal year | 0.163 |
| EPS Basic excluding extraordinary items - trailing 12 month | 0.163 |
| EPS including extraordinary items - most recent fiscal year | 0.163 |
| EPS including extraordinary items - trailing 12 month | 0.163 |
| Free Cash Flow per share - trailing 12 month | 0.300 |
| P/E excluding extraordinary items, most recent fiscal year | 17.53 |
| P/E Normalized, most recent fiscal year | 17.06 |
| Price to sales - most recent fiscal year | 5.99 |
| Price to Tangible Book - most fiscal year | 2.24 |
| Price to Free Cash Flow per Share - most recent fiscal year | 9.45 |
| Price to Cash Flow per share - trailing 12 month | 6.98 |
| Price to Book - most recent fiscal year | 2.24 |
| P/E excluding extraordinary items high, trailing 12 months | 33.95 |
| P/E excluding extraordinary items low, trailing 12 months | 16.11 |
| Net Debt, LFI | -234.38 |
| Net Debt, LFY | -1,057.77 |
| Dividend Yield - 5 Year Average | — |
| Dividend Yield - indicated annual dividend divided by closing price | 1.92% |
| Current Dividend Yield - Common Stock Primary Issue, LTM | 1.77% |
| Free Cash Flow - most recent fiscal year | 975.78 |
| LT debt/equity - most recent fiscal year | 26.43% |
| Payout ratio - most recent fiscal year | — |
| Total debt/total equity - most recent fiscal year | 30.19% |
| LT debt/equity - most recent half-year | 18.80% |
| Total debt/total equity - most recent half-year | 20.17% |
| Free Cash Flow - trailing 12 month | 975.78 |
| Payout ratio - trailing 12 month | — |
| Revenue - most recent fiscal year | 1,539.71 |
| Revenue - trailing 12 month | 1,539.71 |
| EBITD - most recent fiscal year | 1,087.09 |
| EBITD - trailing 12 month | 1,087.09 |
| Earnings before taxes - most recent fiscal year | 793.44 |
| Earnings before taxes - trailing 12 month | 793.44 |
| Net Income available to common - most recent fiscal year | 525.76 |
| Net Income available to common - trailing 12 months | 525.76 |
| Earnings before taxes Normalized - most recent fiscal year | 815.65 |
| Net Income Available to Common, Normalized - most recent fiscal year | — |
| Earnings per Share, Normalized, Excluding Extraordinary Items, Avg. Diluted Shares Outstanding, TTM | 0.17 |
| Net Profit Margin % - 1st historical fiscal year | 34.15% |
| Net Profit Margin % - trailing 12 month | 34.15% |
| Operating margin - 1st historical fiscal year | 28.96% |
| Operating margin - trailing 12 month | 28.96% |
| Pretax margin - trailing 12 month | 51.53% |
| Pretax margin - 1st historical fiscal year | 51.53% |
| Operating Margin - 5 year average | 44.53% |
| Pretax Margin - 5 year average | 37.94% |
| Free Operating Cash Flow/Revenue, 5 Year Average | 7.79% |
| Free Operating Cash Flow/Revenue, TTM | 63.37% |
| Net Profit Margin - 5 year average | 26.05% |
| Return on average assets - most recent fiscal year | 10.10% |
| Return on average assets - trailing 12 month | 10.10% |
| Return on average equity - most recent fiscal year | 14.11% |
| Return on average equity - trailing 12 month | 14.11% |
| Return on average assets - 5 year average | 22.65% |
| Return on average equity - 5 year average | 33.91% |
| Net Income/employee - most recent fiscal year | — |
| Revenue/employee - most recent fiscal year | — |
| Revenue growth rate, 5 year | 56.41% |
| EPS growth rate, 5 year | — |
| Growth rate% - dividend, 3 year | — |
| Revenue/share (5 yr growth) | 49.19% |
| Growth rate% - Revenue, 3 year | -29.07% |
| Growth rate% - EPS, 3 year | -41.09% |
| Book value per share growth rate, 5 year | 44.88% |
| Capital Spending growth rate, 5 year | 75.83% |
| Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year CAGR | 202.92% |
Financial forecast (AUD, millions except per share)
| Actuals | Estimates | |||||||
| 2026 | 2027 | 2028 | 2029 | |||||
| Estimate breakdown | ||||||||
Financials (AUD, millions)
| Period end: | JUN 22 | JUN 23 | JUN 24 | JUN 25 | JUN 26 |
| Fiscal year: | 2022 | 2023 | 2024 | 2025 | 2026 |
| Period length: | 12 months | 12 months | 12 months | 12 months | 12 months |
Announcements
| DATE | TIME | HEADING | PAGES |
| Price sensitive |
Opinion
PLS Group (ASX: PLS) $5.47
PLS: +7.89%: Came out with a strong set of FY26 numbers, highlighting an ongoing earnings recovery as higher lithium volumes and an improved operating base drove earnings (EBITDA) above A$1bn, although net profit (NPAT) fell short of consensus.
Portfolio Amendment – Active Growth
We are making changes to the Active Growth Portfolio today.
PLS Group Ltd (ASX: PLS) $4.19
There has been no company-specific news around PLS since it delivered a solid quarter in April; the share price has declined in line with the Spodumene price, and the ILIT ETF touched on earlier. PLS is one of the most operationally leveraged pure-play spodumene producers globally with a structurally improving cost profile. Every ~US$100/t move in the realised spodumene price translates to a meaningful swing in EBITDA given FY27 production is forecast at ~1,050–1,100kt, implying more than $100mn of EBITDA sensitivity per US$100/t at current volumes, before cost offsets.
Pilbara Minerals Ltd (ASX: PLS) $5.76
Pure lithium business Pilbara delivered a solid quarter in April, confirming its operational performance was on track, covered here. What comes next is largely down to the underlying lithium price - not unusual in the cyclical commodities space. We covered the stock in detail on April Fools Day, calling it a buy around the $5 at the time here, but after advancing another 35% to last week's high, we have to question if the pendulum of risk has swung more in favour of caution.
Pilbara (PLS) $5.77
PLS +1.58%: delivered a solid operational quarter, with higher production and lower costs offsetting weaker sales volumes as lithium markets remain volatile.
Pilbara Minerals Ltd (ASX:PLS) $5.12
Lithium is moving out of its cyclical downturn and into a tightening phase, with demand broadening beyond EVs into energy storage and infrastructure linked to AI and data centres. At the same time, the supply response has been curtailed following the 2023–25 price slump, with producers cutting output and delaying projects.
Are the “short sellers” right to focus on consumer stocks?
Hedge funds have shifted their short positions away from ASX resource names that benefited from the recent commodities boom, targeting consumer-facing stocks such as Treasury Wine Estates, Domino’s Pizza and Guzman y Gomez amid concerns around weakening household spending.
Pilbara Minerals Ltd (PLS) $4.37
PLS reported solid numbers last week – covered Here. On balance we can see PLS trading between $4 and $5 for most of 2026 following its five-fold advance from its 2025 low.
Action
MM is neutral towards PLS around $4.25
MM is selling PLS in the Active Growth Portfolio, taking a loss around $4.25
MM is long and bullish PLS
MM is buying PLS in the Active Growth Portfolio, allocating 3% around $4.70
MM is cautiously bullish towards PLS around $4
MM is neutral towards PLS around $5.80
MM remains cautiously bullish PLS ~$5.80
MM is cautiously bullish towards PLS around $5
MM is now neutral PLS around $4.50
MM is now cautious PLS (& Lithium stocks)
Business Summary
PLS is a mining and exploration company with operations in the Pilbara region of Western Australia. Its primary asset is its Pilgangoora lithium spodumene mine and concentrator. Smaller operations produce tantalite, a byproduct of lithium processing. Pilgangoora lithium mine has approximately 25 years of mine life remaining.
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